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Title : Banksters Are Developing Their Ain E-Currency That Could Destroy The Value Of Bitcoin As Well As Command Us All!
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Banksters Are Developing Their Ain E-Currency That Could Destroy The Value Of Bitcoin As Well As Command Us All!

Michael T. Snyder does some excellent reporting here:

[A] digital currency that uses blockchain applied scientific discipline that is called ‘Utility Settlement Coin’ is really real real, in addition to it is currently beingness jointly developed past times iv of the largest banking giants on the entire planet.  The next was of late reported by Wolf Richter:

UBS, BNY Mellon, Deutsche Bank, Santander, the marketplace operator ICAP, in addition to the startup Clearmatics formed an alliance inwards 2016 to explore the job of digital currency betwixt fiscal institutions in addition to cardinal banks, using blockchain.

The ultimate finish of the projection is to
practice a digital currency known every bit Utility Settlement Coin (USC), which volition facilitate payment in addition to short town for institutional fiscal markets.

I decided that I had to know to a greater extent than most Utility Settlement Coin, in addition to thus I went to the source.

Here’s what the official Deutsche Bank website says most Utility Settlement Coin:

USC is an asset-backed digital cash musical instrument implemented on distributed ledger applied scientific discipline for job inside global institutional fiscal markets. USC is a serial of cash assets, alongside a version for each of the major currencies (USD, EUR, GBP, CHF, etc.) in addition to USC is convertible at parity alongside a depository fiscal establishment deposit inwards the corresponding currency. USC is fully backed past times cash assets held at a cardinal bank. Spending a USC volition travel spending its paired real-world currency.

UBS in addition to Clearmatics launched the concept inwards September 2015 to validate the potential benefits of USC for upper-case missive of the alphabet efficiency, short town in addition to systemic risk reduction inwards global fiscal markets. The projection was initially incubated every bit run of the UBS Crypto 2.0 Pathfinder Program, UBS’s first for inquiry in addition to experimentation on blockchain.

This could ultimately plough out to travel a consummate in addition to total gamechanger.  UBS, BNY Mellon, Deutsche Bank in addition to Santander are iv of the biggest banks inwards the western world, in addition to the fact that they are working on this projection together is a sign that they are real serious most succeeding.

But in addition to then he asks the inquiry that all Bitcoin holders should ask:

 Will the full general populace nevertheless travel willing to pay a huge premium for independently-controlled cryptocurrencies i time the banksters outset coming out alongside their ain versions?

In the EPJ Daily Alert, I advised the sale of Bitcoin in addition to all e-currencies earlier the large crash.  Bitcoin is downward but at that topographic point is nevertheless fourth dimension to travel out at a real high price. If exhaustion inwards buying has really hit, Bitcoin is poised for a major interruption downward.

Oh and, past times the way, this entire grand experiment inwards e-currencies may practice naught but laid all of us upwardly for negative involvement rates more taxes in addition to tracking of all our spending.

Snyder concludes correctly:

The cryptocurrency revolution is nevertheless inwards the real early on stages, in addition to nobody is just certain how it volition end, but without a incertitude the banksters volition travel a major histrion inwards this drama.  If you lot incertitude this, only reckon what i of the travel past times executives at UBS is proverb most Utility Settlement Coin:

“Digital cash is a meat ingredient of a futurity fiscal marketplace cloth based on blockchain technologies,” said Hyder Jaffrey, Head of Strategic Investment & FinTech Innovation at UBS Investment Bank. “There are several digital cash models beingness explored across the Street. The Utility Settlement Coin is focused on facilitating a novel model for digital cardinal depository fiscal establishment cash.“

Digital cardinal depository fiscal establishment cash?

I don’t similar the audio of that at all.

We definitely practice non desire the banksters to co-opt this movement.  Blockchain applied scientific discipline should travel used to costless humanity from debt-based cardinal banking, but instead the exact contrary could terminate upwardly happening.

If someday independently-controlled cryptocurrencies are completely banned or suffocated nearly out of existence past times oppressive regulation, the agency would travel clear for the banksters to forcefulness everyone to job their ain digital currencies.  There are many nations to a greater extent than or less the the world that bring already gone nearly cashless, in addition to the potential for tyranny inwards a cashless organization where all digital currency is controlled past times the banksters would travel absolutely off the charts.

-RW

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